Repsol, Macquarie Group sets to acquire X-Elio

The consortium formed by oil company Repsol SA and Australia’s Macquarie Group Ltd is set to acquire the Spanish renewables energy project developer, X-Elio, owned 80/20 by US private equity fund KKR and Gestamp. 

The deal can represent up to EUR1.2 billion investment. Once the consortium takes over X-Elio, Repsol will be in charge of the greenfield projects, while Macquarie will assume control over brownfield projects.

X-Elio is founded as Gestamp Asetym Solar in 2005. It has a photovoltaic portfolio of more than 650 MW and 41 solar parks in operation.

Other interested companies in the deal are Iberdrola and Japan’s Orix Group.